VET Student Loans
A VET Student Loan (VSL) is a loan from the Australian Government that helps eligible students pay their course tuition fees. Your loan is repaid through the Australian tax system when you reach the minimum income threshold for repayment. The minimum income threshold for repayment is set by the Australian Government each year and is published on Study Assist. Repayments continue until you have repaid your entire debt. It is important to note that your loan will remain a personal debt until it is repaid, and it may reduce your take-home (after tax) wage and your borrowing capacity. You may wish to seek independent financial advice before applying. For more information on the VET Student Loans program, visit the Department of Employment and Workplace Relations website.
The amount you can borrow for your tuition fees is determined by the Australian Government, this information is updated annually and can be found on their VET Students Loans website. Your individual loan amount also depends on your current HELP loan balance, which can be checked on the My Help Balance website. A VET Student Loan is only for tuition fees and does not cover additional costs such as textbooks, materials, or accommodation.
A 20 per cent loan fee applies to VET Student Loans for full fee paying/fee for service students. The loan fee does not count towards your HELP loan limit. You do not have to pay the loan fee upfront, it is reported by your provider and is added to your HELP debt by the Australian Tax Office (ATO).
Students will not be approved for a VET Student Loan if they do not meet eligibility requirements.
More Information: Download the VSL INFORMATION FOR SKILLS GENERATION STUDENTS booklet from the Resources link located at the top of this page.
The VSL Information for Skills Generation Students booklet will provide you with information about all of the Skills Generation processes and procedures relating to student entry, applying and enrolling, fees, re-crediting HELP balances, handling of information, academic suitability, census dates and important notices, eCAFs, withdrawal from courses, cancellation of enrolment, student complaints, and VET Student Loan considerations.
VET Student Loans (VSL) – Fees and Approved Courses
Skills Generations VSL approved courses and fees are set out in the Funding and Fees page.
Students who enrol in Skills Generation VSL approved courses will be supplied with a Schedule Agreement outlining the important dates and fees relevant to the VET Student Loan, as well the student’s obligations to Skills Generation in relation to VET Student Loans. The Schedule Agreement will include information and dates regarding the:
- Electronic Commonwealth Assistance Form (eCAF)
- Statement of Covered Fees (SoCF)
- VET Student Loans Fees Notice
- Census Dates
- Commonwealth Assistance Notice (CAN)
- Progression Forms
For more information download the Australian Government’s ‘Student Obligation’ resource.
For Census Dates please view the Resources tab located at the top of this page.
If census dates are changed at any time, students undertaking a VSL approved qualification will be notified immediately.